Crude Oil - "The logical question is why a tropical storm or a potential hurricane might negatively impact Oil prices. Many will observe rising gasoline prices during a similar types of crisis, so why might Oil prices be moving down while Gas prices are going up? We saw something similar show in latter-August around Hurricane Harvey when a large number of refinement operations in South Texas, around the Gulf of Mexico, were knocked offline. This highlighted that the Oil being extracted could not be refined into Gasoline, at least not at the same pace as prior; so supplies built-up as refiners battled to recover from the devastation of the hurricane’s impact. This building supply glut of Crude meant that prices moved-lower as markets wrestled with the prospect of an even bigger picture-slowdown. And in latter-August, we saw WTI fall below the $46-level as worries about the Hurricane’s impact continued to build."

[USD - Crude Oil Inventories] = Change in the number of barrels of crude oil held in inventory by commercial firms during the past week.

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"U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 2.7 million barrels from the previous week."

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Crude Oil M15: ranging near bullish reversal. The price is located near and below 100 SMA/200 SMA reversal levels in the bearish area of the chart for the ranging within 56.57/56.45 support/resistance levels.

If the price breaks 56.57 resistance level to above on M15 close bar so the bullish reversal will be started.If the price breaks 56.45 support level to below on M15 close bar so the primary bearish trend will be resumed.If not so the price will be on ranging within the levels.

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Crude Oil Daily: bullish ranging for direction. Daily price is above Ichimoku cloud in the bullish area of the chart for 57.25 resistance level to be testing to above for the bullish trend to be continuing with 59.48 nearest bullish target to re-enter., otherwise - the ranging within the levels.

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Chart #1.The chart was made on M15 timeframe with standard indicators of Metatrader 5 except the following indicator (free to download):